Trade Agreements — Unit test

Question 1

Which statement best describes how globalization connects the world?

Revolt · Accepted Answer

Globalization helps create new forms of transportation, communication, and technology.

Question 2

Which region is most likely to export bananas to the United States?

Revolt · Accepted Answer

Central America

Question 3

The United States is said to have an absolute advantage in producing food compared with Japan. What does that mean?

Revolt · Accepted Answer

It produces food more efficiently than Japan.

Question 4

What is the benefit in reaching the absolute advantage in the production of one good?

Revolt · Accepted Answer

to produce more units of a good while using fewer resources

Question 5

The graph shows gross domestic product in the US private sector from 2009 to 2017.

Revolt · Accepted Answer

The economy suffered a setback in 2009 before rebounding in 2010.

Trade Agreements — Unit test Answers